El manejo óptimo de la “Enfermedad Holandesa” para Ecuador

Abstract

The present work is an application to Ecuador of the "Optimal Dutch Disease" model, developed in Norway by Ragnar Torvik. This model proposes that the Dutch Disease may be managed in an optimal way through the enhancement of the process of learning by doing by the human resources and of the production of tradable goods. The results of the model show that in Ecuador the resources generated through the extraction of oil could have been allocated to improve the productivity of human capital by means of learning by doing, in order to achieve stable economic growth in the medium and long-run.

Another result supports the fact that having a thin tradable sector is not beneficial because of the small size Of the country's market, 1.e., a policy to expand the sector of tradable goods should have been implemented.